Ever trade in a car?

That you still owed money on? How does that work?

Re: Ever trade in a car?

Do you owe more or less then it's worth?

in terms of owing more then it's worth....
I have never done that- but DH did- and it's a mistake

they roll it into your next one- he was paying $700 a month for a pathfinder

and then when we wanted to sell that- we had to wait an extra year for the car to be worth what we owed

it was basically an extra $6K that he rolled it from his maxima that was 1 year old when he traded it in

you could always pay the difference out of pocket- but I would honestly wait till the car is worth what you owe or close
since they deprication as soon as you drive it off the lot anyway

Message edited 3/20/2008 2:17:06 PM.

Re: Ever trade in a car?

i traded in my car.. basically they give you what the book value is.. but it always seems to be a rip off.. sometimes if you sell it privately you will get more .

if you decided to trade it basically what the above poster said.. they pay it off for you.. then the difference goes to the car.

i hate car dealerships